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Thursday, November 12 - 2009

Arab Orient Insurance Company (PSC) debuts on Dubai Financial Market

  • United Arab Emirates: Thursday, October 05 - 2006 at 13:26
  • PRESS RELEASE

Dubai Financial Market (DFM) today announced the listing of Arab Orient Insurance Company (PSC), a leading player in all classes of insurance.

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  • From left to right: Mr. Essa Kazim, Director General of DFM shaking hands with Mr. Omer Hassan El Amin, Managing Director of Arab Orient Insurance Company (PSC) during the listing ceremony of the company on Thursday, October 5, 2006.
    From left to right: Mr. Essa Kazim, Director General of DFM shaking hands with Mr. Omer Hassan El Amin, Managing Director of Arab Orient Insurance Company (PSC) during the listing ceremony of the company on Thursday, October 5, 2006.
Arab Orient Insurance Company is the 42nd company to list its shares on the DFM and the 60th listed security on the market. The company's shares will start trading today (October 5, 2006) under the trading symbol (AOIC) that will appear on DFM screens, trading systems and publications.

The listing of ordinary shares of AOIC's has been finalised and approved by DFM in collaboration with ESCA. Foreign investors are not allowed to acquire AOIC's shares, while UAE Nationals are allowed to own 100 per cent of the company's shares. Its paid-up capital amounts to AED150 million.

Essa Kazim, Director General of DFM said:

"We welcome them to our bourse, and look forward to a prosperous future together. We hope that this listing enhances the activity of DFM's industrial sector. DFM's strategy is based on offering diversified investment options to investors, and today's listing comes in line with this strategy."


Omer Hassan El Amin, Managing Director of Arab Orient Insurance Company (PSC) said: " We are delighted to announce AOIC's listing on DFM. The company's decision comes in line with its expansion plans in the region. DFM is a leading stock market that attracts business initiatives from the Arab World."
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Notes and media contacts

About AOIC

Arab Orient Insurance Company (PSC) ("the company") was incorporated with limited liability on 22 July 1980 in the Emirate of Dubai by a decree of His Highness The Ruler of Dubai and commenced operations on 1 January 1982. The company was registered in accordance with the UAE Federal Law No.(9) of 1984, as amended, ("The Insurance Companies Law") on 29 December 1984 with registration No.14.

The company operates in the United Arab Emirates. It mainly issues short term insurance contracts in connection with property, engineering, motor, marine, miscellaneous accident, medical, group life and personal accident classes (collectively known as general insurance). The company also invests its funds in investment securities.

About Dubai Financial Market
Dubai Financial Market was established as a public institution having its own independent corporate body. DFM is operating as a secondary market for trading of securities issued by public shareholding companies, bonds issued by the Federal Government or any of the Local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the Market. The Market commenced operations on 26th March 2000.

For further information, please contact:
Bakul Gala / Tarek Fleihan
Mobile: 2459547 / 5198511
ASDA'A Public Relations
Dubai, UAE
Tel: +971-4-3344550
Fax: +971-4-3344556

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